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Download Download World Nutrition Volume 6, Number 11-12, November-December 2015 WN Columns World Nutrition Volume 6, Number 11-12, November-December 2015 Journal of the World Public Health Nutrition Association Published at www.wphna.org/worldnutrition/ WN Here I stand The Keynes of all times, and other stories Geoffrey Cannon University of São Paulo, Brazil Email: [email protected] Access Geoffrey’s profile here Rio de Janeiro, Juiz de Fora. Onwards and upwards? Or down and outwards? The spiral above is designed to inspire aspiration. But right now the global economy is in vortex mode – a downward spiral. In the previous WN I identified the Greek economist and politician Yanis Varoufakis as ‘The Keynes of our times’ and readers have been asking ‘Who is Keynes?’. So my hero in this issue is John Maynard Keynes, the man himself, who a century ago gave clues to just how ominous world prospects are now. ‘Sustainable development’ is surely a foolish fantasy. Then I ruminate on the overuse and abuse of the word ‘we’, as in ‘Yes, we can’, or ‘We need to tackle the challenge of epidemic obesity’. Who are ‘we’? Finally, some shocks of recognition. In the UK an official report on diet and health has been suppressed. In the UK and Mexico militant health professionals have succeeded in pressing for a continued tax on soda (sugared soft drinks). And then the new horror stories about beef, pork, bacon, hot dogs, ham, chorizo and cancer. So I reminiscence about my own part played long ago, in revelations on expert report suppression, on sugar taxation, and hot dogs, burgers and bowel cancer. Also I enjoy a lunch of fried and steamed vegetables – with slices of sausage. Delicious! Healthy! Cannon G. The Keynes of all times, and other stories… Here I stand [Column]. World Nutrition November-December 2015, 6, 11-12, 855-871 855 World Nutrition Volume 6, Number 11-12, November-December 2015 WN Development What they believe: 21. John Maynard Keynes The Keynes of all times John Maynard Keynes painted by Gwen Raverat, and later (with his wife Lydia Lopokova) by William Roberts (above left), then (above right) negotiating at Bretton Woods with Harry Dexter White of the US, and in his glory as a Lord. One of his sardonic penetrating sayings (below, left), and covers of some of the books about him, including by Roy Harrod and especially, Robert Skidelsky ‘I find Economics increasingly satisfactory, and I think I am rather good at it’, wrote John Maynard Keynes (1883-1946) before the First World War to his intimate friend and fellow member of the Bloomsbury Group Lytton Strachey. Twenty years later, before the Second World War, he wrote to his close friend the playwright and eminent Fabian socialist George Bernard Shaw, ‘I believe myself to be writing a book on economic theory which will largely revolutionise – not, I suppose, at once but in the course of the next ten years – the way the world thinks about economic problems’. These two letters epitomise Keynes and his times. He had the calm self-assurance of that widely educated, socially and culturally networked, extremely intelligent generation of British leaders in public life who lived when the British Empire still amounted to a fifth of the world’s population and almost a quarter of its land mass. Keynes himself had extra special qualities. Educated at Eton and King’s College Cambridge in classics, history, religion, philosophy, politics and mathematics, he was a phenomenal writer, a very senior servant, patron of the arts, and gentleman farmer. Also – the reason to celebrate him here – he became the most influential economist in the world, from the late 1940s to 1970s. He has much to teach us now. After his eclipse in the dark and still pervasive period of casino capitalism beginning in the 1980s, his vision of resources and wealth in the equitable service of humankind is again shining bright. Cannon G. The Keynes of all times, and other stories… Here I stand [Column]. World Nutrition November-December 2015, 6, 11-12, 855-871 856 World Nutrition Volume 6, Number 11-12, November-December 2015 Box 1 Some sayings of Keynes The policy of reducing Germany to servitude for a generation, of degrading the lives of millions of human beings, and of depriving a whole nation of happiness, should be abhorrent and detestable – abhorrent and detestable, even it were possible, even if it enriched ourselves, even if it did not sow the decay of the whole civilised life of Europe. Some preach it in the name of Justice. In the great events of man’s history, in the unwinding of the complex fates of nations, Justice is not so simple. And if it were, nations are not authorised, by religion or by natural morals, to visit on the children of their enemies the misdoings of parents or of rulers. The Economic Consequences of the Peace, 1919 When the accumulation of wealth is no longer of high social importance, there will be great changes in the code of morals. We shall be able to rid ourselves of many of the pseudo-moral principles which have hag-ridden us for two hundred years, by which we have exalted some of the most distasteful of human qualities into the position of the highest virtues. We shall be able to assess the money-motive at its true value. The love of money as a possession – as distinguished from the love of money as a means to enjoyments and realities of life — will be recognised for what it is, a somewhat disgusting morbidity, one of those semi-criminal, semi-pathological propensities which one hands over with a shudder to the specialists in mental disease … But beware! The time for all this is not yet. For at least another hundred years we must pretend to ourselves and to everyone that fair is foul and foul is fair; for foul is useful and fair is not. Avarice and usury and precaution must be our gods for a little longer still… If economists could manage to get themselves thought of as humble, competent people on a level with dentists, it would be splendid. Economic Possibilities for our Grandchildren, 1930 The decadent international but individualistic capitalism in the hands of which we found ourselves after the war is not a success. It is not intelligent. It is not beautiful. It is not just. It is not virtuous. And it doesn’t deliver the goods. In short, we dislike it, and we are beginning to despise it. But when we wonder what to put in its place, we are extremely perplexed. National Self-Sufficiency, 1933 The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed, the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist. The General Theory of Employment, Interest and Money, 1936 Too large a proportion of recent ‘mathematical’ economics are mere concoctions, as imprecise as the initial assumptions they rest on, which allow the author to lose sight of the complexities and interdependencies of the real world in a maze of pretentious and unhelpful symbols. The General Theory of Employment, Interest and Money, 1936 Speculators may do no harm as bubbles on a steady stream of enterprise. But the position is serious when enterprise becomes the bubble on a whirlpool of speculation. When the capital development of a country becomes the by-product of the activities of a casino, the job is likely to be ill-done. The General Theory of Employment, Interest and Money, 1936 Cannon G. The Keynes of all times, and other stories… Here I stand [Column]. World Nutrition November-December 2015, 6, 11-12, 855-871 857 World Nutrition Volume 6, Number 11-12, November-December 2015 The statements quoted in Box 1 above, give a sense of Keynes’s style and attitude – playful and sardonic, and yet at the same time also wise and humane. By inclination and experience – and as said by Nobel economics prizewinner Paul Krugman in Box 2, below – he was also acutely aware of the impact of intangible factors such as mood on public as well as private affairs and events. Having been himself almost wiped out financially in the Great Crash of 1929, he regarded the idea that economics could be an efflorescence of mathematics, as a bad joke. Like politics, inasmuch as economics is a science, it is a social science, best understood by people who in their own lives and times remain vividly aware of human instinct, intelligence, frailty and folly. To know more of Keynes’s achievements, please refer to Robert Skidelsky’s one- volume life, or his shorter The Return of the Master, listed in Box 3. Paul Krugman is right to say that this now is again an age of Keynes, meaning renewed commitment to equity and justice, the duties of governments, the restraint of corporations, and to public works, public goods, and the public interest – or it better had be. The lessons of failure Keynes’s two greatest endeavours failed – inevitably, because his driving motives were ones of reason, logic and compassion, and he was faced with brute force wielded by leaders of the most intransigent powerful nations. As head of the British delegation at the Bretton Woods conference in July 1944 during the Second World War, when defeat of Germany and Japan was foreseen, his task was to protect the interests of Britain and to set up an international banking system designed to create political as well as economic stability and fair dealing in the postwar world.
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